2020-04-03T09:56:20-05:00 2019-05-31 420714325 RSM US LLP 1861 INTERNATIONAL DRIVE SUITE 400 MCLEAN VA 22102 990 2018-06-01 560556753 LENOIR RHYNE UNIVERSITY LENO 8283287100 PO BOX 7164 HICKORY NC 286037164 FREDERICK K WHITT PRESIDENT 8283287100 2020-04-03 1 YONG ZHANG CPA P01249785 7033366400 66.98.98.4 2020-04-03 09:36:21 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 67AF02E10978DF50186A66F4465B872A534856F3 2018 2020-09-23 17:36:50Z FREDERICK K WHITT PO BOX 7164 HICKORY NC 286037164 125931903 0 X WWW.LR.EDU X 1905 NC LENOIR-RHYNE UNIVERSITY PROVIDES PROGRAMS OF UNDERGRADUATE, GRADUATE, AND CONTINUING STUDY COMMITTED TO THE LIBERAL ARTS AND SCIENCES. THE UNIVERSITY AWARDS BACHELORS AND MASTER DEGREES. 28 27 1325 150 -19503 -19503 9590606 13260612 72823980 81089447 4970341 7028029 797486 268796 88182413 101646884 32315152 37347952 0 0 27716973 29334483 2939 24607 2727230 24100772 25571380 84135836 92278422 4046577 9368462 215447826 218883870 51590022 50886149 163857804 167997721 X LENOIR-RHYNE UNIVERSITY PROVIDES PROGRAMS OF UNDERGRADUATE, GRADUATE, AND CONTINUING STUDY COMMITTED TO THE LIBERAL ARTS AND SCIENCES. THE UNIVERSITY AWARDS BACHELORS AND MASTER DEGREES. 0 0 54506143 36130409 63723358 PROVIDE EDUCATIONAL PROGRAMS AND CONFER UNDERGRADUATE DEGREES IN APPROXIMATELY SIXTY ACADEMIC PROGRAMS OF STUDY. THE UNVERSITY OFFERS 57 DIFFERENT PROGRAMS OF STUDY FOR UNDERGRADUATES AND 24 DIFFERENT PROGRAMS FOR GRADUATE DEGREES. 7740555 11910350 PROVIDE STUDENT LIFE PROGRAMS TO RESIDENTIAL AND COMMUTER STUDENTS AS PART OF THEIR ACADEMIC EXPERIENCES AT THE UNIVERSITY. 2204222 1217543 5455739 PROVIDE EDUCATIONAL PROGRAMS AND CONFER MASTERS LEVEL GRADUATE DEGREES IN COUNSELING, ATHLETIC TRAINING, BUSINESS, AND OCCUPATIONAL THERAPY. GRANT TO RELATED ORG TO COVER CERTAIN SHARED ADMINISTRATIVE COSTS. 64450920 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1 0 1 1325 1 0 0 0 0 0 0 0 0 0 0 0 0 X 28 27 1 1 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC SC X FRED K WHITT 8283287334 643 8TH AVENUE NE HICKORY NC 28601 X BOYD GEORGE CHAIR 1.00 X X 0 0 0 MARGARET JACKSON VICE CHAIR 1.00 X X 0 0 0 MADELEINE DASSOW SECRETARY 1.00 X X 0 0 0 CHARLES SNIPES ASSISTANT SECRETARY 1.00 X X 0 0 0 JEARLD LEONHARDT TREASURER 1.00 X X 0 0 0 BOYD WILSON TRUSTEE 1.00 X 0 0 0 MARK BERNTHAL TRUSTEE 1.00 X 0 0 0 ALAN DAVIS TRUSTEE 1.00 X 0 0 0 GABI MACON KELLY TRUSTEE 1.00 X 0 0 0 TONY WOLFE TRUSTEE 1.00 X 0 0 0 LOWELL ALMEN TRUSTEE 1.00 X 0 0 0 KENNY CHUN TRUSTEE 1.00 X 0 0 0 KATE ESCH TRUSTEE 1.00 X 0 0 0 SCOTT HOMESLEY TRUSTEE 1.00 X 0 0 0 PEDIE KING TRUSTEE 1.00 X 0 0 0 STEVE PLONK TRUSTEE 1.00 X 0 0 0 EDDIE EDWARDS TRUSTEE 1.00 X 0 0 0 CLIFF RITCHIE TRUSTEE 1.00 X 0 0 0 STEVE THOMAS TRUSTEE 1.00 X 0 0 0 RHODES WOOLLY TRUSTEE 1.00 X 0 0 0 TIM SMITH BISHOP TRUSTEE 1.00 X 0 0 0 JOE MCGUIRE TRUSTEE 1.00 X 0 0 0 RACHEL CONNELLY TRUSTEE 1.00 X 0 0 0 JADE COBB MURRAY TRUSTEE 1.00 X 0 0 0 JANIE PEAK TRUSTEE 1.00 X 0 0 0 MARY HINKLE SHORE TRUSTEE 1.00 X 0 0 0 SYBIL STEWART TRUSTEE 1.00 X 0 0 0 FREDERICK K WHITT PRESIDENT 40.00 X X 343604 0 64804 GARY C JOHNSON PROVOST 40.00 X 106477 0 14675 LARRY HALL PROVOST 40.00 X 40684 0 5109 PETER KENDALL VP FINANCE 40.00 X 178210 0 26386 RACHEL NICHOLS VP ENROLLMENT 40.00 X 141672 0 35445 CATHERINE NIEKRO VP ADVANCEMENT 40.00 X 168549 0 25296 KATHRYN FISHER DEAN OF STUDENTS 40.00 X 112844 0 6945 KIMBERLY PATE DIRECTOR ATHLETICS 40.00 X 114493 0 31563 RICHARD D BALL DIRECTOR OF PA STUDIES 40.00 X 145230 0 24445 WESLEY N REID PROFESSOR OF PA STUDIES 40.00 X 100147 0 30851 DONNA F MURRAY CLINICAL DIRECTOR OF PA STUDIES 40.00 X 117758 0 24381 ANDREW D CRONIC HEAD OF FOOTBALL COACH 40.00 X 132668 0 29875 1702336 0 319775 23 0 1 0 DAVID E LOOPER & CO PO BOX 3224 HICKORY NC 28603 CONSTRUCTION NEEDS 2111692 ARAMARK CAMPUS SERVICES LR BOX 7476 HICKORY NC 28603 FOOD SERVICES 1871488 ARAMARK FACILITIES SERVICES 1255 CRESCENT GREEN DRIVE STE 210 CARY NC 27518 MAINTENANCE & HOUSEKEEPING 1038270 ELLUCIAN COMPANY LP 4 COUNTRY VIEW ROAD MALVERN PA 19355 INFORMATION TECH CONSULTING 780290 WM C REYNOLDS CO INC PO BOX 2068 HICKORY NC 28603 CONSTRUCTION NEEDS 296138 16 975805 12284807 347740 13260612 TUITION AND FEES 611710 69583877 69583877 AUXILIARY SERVICES 611710 11505570 11505570 81089447 5523773 -57625 5581398 115711 40849 74862 74862 74862 25504992 243434 23950926 293244 1554066 -49810 1504256 38122 1466134 MISCELLANEOUS 611710 193934 193934 193934 101646884 81089447 -19503 7316328 37347952 37347952 1398922 691627 638328 68967 21599386 10678736 9855800 1064850 1062599 525349 484864 52386 3687363 1823032 1682544 181787 1586213 784224 723789 78200 5933344 2933445 2707385 292514 60167 29747 27454 2966 136162 67318 62131 6713 24607 24607 202019 202019 1867857 923469 852303 92085 465655 230220 212478 22957 479280 236956 218695 23629 1957581 967828 893244 96509 140 69 64 7 23164 11452 10570 1142 1370223 677438 625233 67552 2211662 1093446 1009181 109035 4598835 2273664 2098448 226723 606178 299694 276599 29885 UTILITIES 2298372 1136315 1048747 113310 REPAIRS/SERVICE AGREEME 1737184 858864 792677 85643 BAD DEBTS 742928 367304 338998 36626 MEMBERSHIPS & DUES 253489 125325 115667 12497 627140 367446 223054 36640 92278422 64450920 25100272 2727230 4485 5485 8244539 10877534 620400 1734121 2757310 1719895 748466 591822 10683 11134 782285 713817 156647036 62559674 93535572 94087362 63158269 62935831 39272510 41249018 6313307 4957851 215447826 218883870 4543699 5851937 1731493 1789231 27584524 26072414 168408 208224 15482562 14370762 2079336 2593581 51590022 50886149 X 46412215 46189946 117445589 121807775 163857804 167997721 215447826 218883870 X 9368462 -5025057 -203488 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 168408 39816 208224 1 X 109575171 4577290 1815770 2474804 1803535 481005 111208887 102668101 4196465 7425481 2481700 1780473 452703 109575171 94160563 3873039 9211047 2390140 1714679 471729 102668101 93872422 7694705 -2996639 2224278 1687563 498084 94160563 96337197 1414979 1752092 3708829 1460644 462373 93872422 0.05450 0.77630 0.16920 0 0 371940 2833605 3205545 130068630 56726111 73342519 15385187 1857628 13527559 7987674 3975935 4011739 94087362 EQUITY FUNDS 5574143 F HEDGE FUNDS 14510494 F LIMITED PARTNERSHIPS 16468324 F ANNUITY CONTRACTS 2077785 F BOND FUNDS 2618272 F 41249018 GOVERNMENT ADVANCES FOR STUDENT LOANS 1196483 INTEREST RATE SWAP 566088 ASSET RETIREMENT OBLIGATIONS 831010 2593581 X 59129625 -5025057 25416 -37551440 -42551081 101680706 56837 -90659 -33822 101646884 54989708 25416 90659 116075 54873633 56837 37347952 37404789 92278422 PART IV, LINE 2B: LENOIR-RHYNE UNIVERSITY SERVES AS CUSTODIAN FOR FUNDS BELONGING TO VARIOUS STUDENT ORGANIZATIONS. GROUPS ARE ABLE TO ACCESS THE FUNDS ON REQUEST WITH APPROVAL OF ADVISOR. PART V, LINE 4: PROVIDE SCHOLARSHIPS, PROFESSORSHIPS, AND PROGRAM SUPPORT AS DESIGNATED BY DONORS. PART X, LINE 2: THE UNIVERSITY IS A TAX EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ASC. THE UNIVERSITY FILES A FORM 990-T IN ACCORDANCE WITH APPLICABLE U.S. FEDERAL REGULATIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS EXPENSE -37,347,952. LOSS ON INTEREST RATE SWAP -510,333. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -150,226. ACQUISITION OF NET ASSETS OF PIEDMONT EDUCATIONAL FOUNDATION, INC 457,071. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -40,849. LOSS FROM SALE OF FIXED ASSETS -49,810. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 40,849. LOSS ON SALE OF FIXED ASSETS 49,810. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS EXPENSE 37,347,952. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ORGANIZATION HAS NO ADVERTISING DIRECTLY TO STUDENTS. THE ORGANIZATION DISPLAYS THIS POLICY IN ITS CATALOGUE AND ON REGISTRATION MATERIALS. SCHEDULE E, PART I, LINE 6 LENOIR-RHYNE UNIVERSITY STUDENTS RECEIVE A VARIETY OF FEDERAL AND STATE GRANTS AND LOANS, INCLUDING BUT NOT LIMITED TO, DIRECT LOANS, PELL GRANTS, AND NORTH CAROLINA NEED-BASED SCHOLARSHIP PROGRAM. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 18747306 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 108232 0 0 0 0 0 0 18855538 0 18855538 1 0 1 1 1 0 PART I, LINE 3: THE ORGANIZATION USES GAAP TO REPORT FOREIGN INVESTMENTS. X X X X X 1 ACTIVE INTERNET TECHNOLOGIES 655 WINDING BROOK DR GLASTONBURY CT 06033 DONOR WEBSITE MAINTENANCE 0 0 6800 -6800 CRESCENDO INTERACTIVE INC 110 CAMINO RUIZ CAMARILLO CA 93012 DONOR WEBSITE DESIGN 0 0 4150 -4150 JENKINS IMAGING INC 2351 29TH AVE S SEATTLE WA 98144 PHOTOGRAPHY 0 0 8433 -8433 JACKSON CREATIVE LLC 219 1ST AVE SW HICKORY NC 28602 ADVANCEMENT VIDEO 0 0 2729 -2729 WILDFIRE LLC 709 N MAIN ST WINSTONSALEM NC 27101 FUNDRAISING MAILING SERVICE 0 0 2495 -2495 24607 -24607 1 SCHOLARSHIPS AND FELLOWSHIPS TO UNDERGRADUATE STUDENTS 1639 35854034 SCHOLARSHIPS AND FELLOWSHIPS TO GRADUATE STUDENTS 218 1493918 PART I, LINE 2: GRANTS ARE AWARDED TO STUDENTS BASED UPON THE CRITERIA ESTABLISHED WITH EACH GRANT. FINANCIAL AID PERSONNEL MONITOR EACH GRANT ALONG WITH THE TOTAL AID RECEIVED BY EACH STUDENT TO ENSURE THAT INDIVIDUALS AS WELL AS COLLECTIVE AWARDS ARE WITHIN THE GUIDELINES ESTABLISHED BY STATE AND FEDERAL GOVERNMENTAL AGENCIES. X X X 0 0 0 0 0 0 0 0 0 FREDERICK K WHITT PRESIDENT 340556 0 0 0 3048 0 46500 0 18304 0 408408 0 0 0 PETER KENDALL VP FINANCE 177178 0 0 0 1032 0 11003 0 15383 0 204596 0 0 0 RACHEL NICHOLS VP ENROLLMENT 141120 0 0 0 552 0 9068 0 26377 0 177117 0 0 0 CATHERINE NIEKRO VP ADVANCEMENT 168189 0 0 0 360 0 10590 0 14706 0 193845 0 0 0 RICHARD D BALL DIRECTOR OF PA STUDIES 142974 0 0 0 2256 0 8959 0 15486 0 169675 0 0 0 ANDREW D CRONIC HEAD OF FOOTBALL COACH 112029 0 0 0 20639 0 7575 0 22300 0 162543 0 0 0 A LENOIR-RHYNE UNIVERSITY 560556753 NONEAVAIL 2014-10-01 13592000 REFUND PREVIOUS BOND ISSUE 0 0 0 B NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY 562592154 NONEAVAIL 2015-12-17 17000000 TO FINANCE BUILDINGS AND STRUCTURES 0 0 0 A 2511000 13592000 183622 13408378 2014 1 0 1 1 B 17000000 1817191 198354 14974659 173000 2015 1 0 1 1 A 0 0 0 0 1 0 0 B 0 0 0 0 1 0 0 A 1 1 1 SUN TRUST 10.000000000000 0 0 0 0 0 B 1 1 1 SUN TRUST 10.000000000000 0 0 0 0 0 A 1 B 1 X 19 338845 FAIR MARKET VALUE X LAB EQUIP. 1 7691 OWNER'S ESTIMATE X CONDUCTOR'S PODIUM 1 654 OWNER'S ESTIMATE X PORTRAIT 1 400 OWNER'S ESTIMATE X 5 FILE CABINETS 1 150 OWNER'S ESTIMATE 0 0 0 0 PART I, LINE 33: MANAGMENT RETAINS RECORDS OF EACH DONATION, INCLUDING THE DONOR NAME AND DESCRIPTION OF DONATION; HOWEVER, IT IS THE POLICY OF THE UNIVERSITY TO REFRAIN FROM RECORDING CONTRIBUTION REVENUE FOR MINIMAL DONATIONS. FORM 990, PART VI, SECTION A, LINE 2 HICKORY IS A RELATIVELY SMALL TOWN, AND MANY MEMBERS ON THE BOARD (OR A FAMILY MEMBER) OPERATE A BUSINESS IN TOWN THAT OTHERS MAY PATRONIZE IN THE NORMAL COURSE OF BUSINESS. BOARD OF TRUSTEE MEMBER BOYD L. GEORGE IS COB/CEO OF ALEX LEE INC., WHICH OWNS LOWES FOODS. LRU HAS USED LOWES FOODS FOR FOOD-RELATED SUPPLIES. FORM 990, PART VI, SECTION A, LINE 3 THE UNIVERSITY HAS FOUR SIGNIFICANT MANAGEMENT CONTRACTS WITH OUTSIDE SERVICE PROVIDERS. THESE INCLUDE MANAGEMENT (ARAMARK), DINING SERVICES (ARAMARK), BOOKSTORE OPERATIONS (VALIDIS), AND IT OPERATIONS (SUNGUARD HIGHER EDUCATION). IN ALL OF THESE INSTANCES THE UNIVERSITY HAS A DETAILED CONTRACT WITH THE VENDOR THAT CLEARLY DELINEATES THE AUTHORITY THESE ORGANIZATIONS AND THEIR EMPLOYEES HAVE TO PROVIDE MANAGEMENT AND OTHER SERVICES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE BOARD OF TRUSTEES ARE ELECTED BY THE ORGANIZATION'S GOVERNING BODY WITH THE EXCEPTION OF THE BISHOP OF THE NC SYNOD. THE BISHOP OF THE NC SYNOD IS ELECTED BY THE DELEGATES TO THE SYNOD CONVENTION AND HE/SHE HOLDS AN EX-OFFICIO VOTING POSITION ON THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE BUSINESS OFFICE STAFF. THEN IT IS REVIEWED BY THE AUDIT COMMITTEE. THE 990 IS THEN PROVIDED DIGITALLY TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE CHAIR OF THE BOARD OF TRUSTEES AND THE PRESIDENT OF THE UNIVERSITY REQUEST THAT ALL TRUSTEES, OFFICERS, SENIOR MANAGERS AND DEPARTMENT MANAGERS REVIEW THE CONFLICT OF INTEREST POLICY AND COMPLETE THE DISCLOSURE FORM ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD CONDUCTS AN ANNUAL PERFORMANCE APPRAISAL OF THE PRESIDENT. THIS COMMITTEE THEN APPROVES CHANGES IN COMPENSATION AND/OR THE EMPLOYMENT CONTRACT OF THE PRESIDENT BASED ON A REVIEW OF HISTORICAL COMPENSATION DATA COMPILED REGARDING THE COMPENSATION OF THE PRESIDENTS OF SIMILAR ORGANIZATIONS IN NORTH CAROLINA AND THROUGHOUT THE UNITED STATES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION A, COLUMN F THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE SWAP -510,333. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -150,226. ACQUISITION OF NET ASSETS OF PIEDMONT EDUCATIONAL FOUNDATION, INC 457,071. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE'S PROCESS OF OVERSIGHT AND SELECTION HAS NOT CHANGED SINCE PRIOR YEAR. REESE HOLDINGS LLC PO BOX 7164 HICKORY NC 28603 560556753 HOLDING OF CONTRIBUTED REAL ESTATE NC 27215 663000 LENOIR RHYNE UNIVERSITY INC PIEDMONT EDUCATIONAL FOUNDATION PO BOX 7280 HICKORY NC 28603 566061289 PROVIDE ATHLETIC SCHOLARSHIPS FOR LENOIR RHYNE UNIVERSITY NC 501(C)(3) LINE 12B, II N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 PIEDMONT EDUCATIONAL FOUNDATION INC S 457071 GAAP